The Maldives–China Free Trade Agreement has completed one year since coming into force, strengthening trade, investment and economic cooperation between the Maldives and China.
The agreement, which became effective on 1 January last year under the administration of President Mohamed Muizzu, is the first Free Trade Agreement currently in force in the Maldives.
According to the Ministry of Economic Development and Trade, the FTA is expected to generate significant benefits for local businesses, exporters and consumers by expanding market access and reducing trade barriers.
Consultant of Economic Ministry, Shuhad Ibrahim stated that an increasing number of Maldivian businesses are registering to export goods to China. He highlighted the fisheries sector as one of the primary beneficiaries of the agreement.
Thirteen Maldivian companies have now completed registration with China’s General Administration of Customs, enabling them to export fish products directly to the Chinese market. Officials note that this development allows companies to shift from exporting raw fish at lower value to processing and adding value locally prior to export, thereby increasing revenue potential and competitiveness.
China remains one of the world’s largest manufacturing hubs and a key trading partner of the Maldives. The FTA is expected to reduce the cost of selected imported goods from China, providing benefits to consumers.
Officials further stated that the agreement will support expanded export and re-export activities, facilitate the processing of Maldivian fisheries products and other goods, and stimulate new business ventures. Increased Chinese investment under the FTA framework is also anticipated to contribute to economic growth and job creation nationwide.
The government has described the agreement as a strategic measure aimed at diversifying the economy and strengthening long-term trade resilience.